Abu Dhabi, UAE (24th May 2015)

The National Bank of Abu Dhabi PJSC (NBAD), along with Arab Banking Corporation, was mandated by the International AirFinance Corporation (IAFC) as Underwriters, Bookrunners and Lead Arrangers on a U$400 million senior secured Murabaha loan transaction. The deal, which is IAFC's inaugural syndicated loan, will finance the provision of five A330-200 aircraft on an operating lease to Kuwait Airways.

The Facility comprises an 8 year term loan secured on the 5 aircraft and is currently in syndication with an expected closing at the end of May. The borrower is a 100% owned subsidiary of a fund managed by IAFC.

Vasgen Edwards, the Global Head of Aerospace & Transport at NBAD, said:  "The aviation industry is one of the fastest growing industries in the West-East corridor and one of our five top priority sectors for our wholesale banking activity. This unique transaction also highlights our expertise and expanding foothold in the Islamic finance segment. We are extremely proud that in the first quarter of this year, NBAD was ranked as the world's number one bank for managing issuance of international Sukuk."

Earlier this year NBAD co-structured a US$913 million UKEF-backed Sukuk closed by Emirates Airlines, making it the first time that a Sukuk has been used to pre-fund the acquisition of aircraft.

IAFC is the first Sharia compliant aircraft leasing fund dedicated to Airbus aircraft and seed funded by Airbus and Islamic Development Bank.  The fund is looking to target GCC, MENA, CIS and Southeast Asian airline carriers. 

-Ends-

About NBAD
The National Bank of Abu Dhabi (NBAD) has one of the largest networks in the UAE, with an expanding network of 125 branches and cash offices and more than 585 ATMs across the country. NBAD's growing international network consists of about 60 branches and offices in 18 countries stretching across five continents from the Far East to the Americas, giving it the largest global network among all UAE banks.

Since 2009, NBAD has been ranked consecutively as one of the World's 50 Safest Banks by the prestigious Global Finance magazine, which also named NBAD the Safest Bank in the Emerging Markets and the Middle East.

 NBAD is rated senior long term/short term AA-/A-1+ by Standard & Poor's (S&P), Aa3/P1 by Moody's, AA-/F1+ by Fitch, A+ by Rating and Investment Information Inc (R&I) Japan, and AAA by RAM (Malaysia) , giving it one of the strongest combined rating of any  Global  financial institution.

A comprehensive financial institution, NBAD offers a range of banking services including retail, investment and Islamic banking. NBAD grows strategically toward its vision to be recognised as the World's Best Arab Bank.

For more information please visit our corporate webpage at: www.nbad.com.

For further enquires, please contact:
Michael Miller      
Head of Investor, Media & Public Relations 
Email: michael.miller@nbad.com 
Tel: +971 2 611 2355
Mobile: +971 50 619 7116
                                                                           
Fadeela Khamis
Manager, Media & Public Relations
Email: fadeela.mohamed@nbad.com
Tel: +971 2 611 1511
Mobile: +971 56 616 2265                                                                        

© Press Release 2015